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NBCU’s Fandango to acquire Brazilian online ticketing company

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MUMBAI: NBC Universal’s online and mobile movie tickets company Fandango has signed an agreement with Latin American e-commerce company, B2W Companhia Digital, to purchase its entertainment ticketing subsidiary, Ingresso.com, based in Rio de Janeiro, Brazil.

With more than six million registered customers, Ingresso.com is Brazil’s largest online and mobile movie ticketing service. In addition to movies, the service also sells tickets to concerts, soccer games and cultural events including the world-famous Rock in Rio music festival.

The acquisition, subject to regulatory review and other customary closing conditions, is expected to close in the fourth quarter of this year.

Brazil has a leading moviegoing population, accounting for 40 per cent of Latin American box office dollars in 2014, according to Rentrak. The country has seen nine continuous years of box office growth, representing the largest market in South America and the world’s 11th largest theatrical market, according to the Motion Picture Association of America. The MPAA predicts that Brazil will constitute the world’s fifth largest market by the end of 2020.

“As our ongoing commitment to the domestic business continues to produce record-breaking results, we see this as an opportune moment to expand outside of the United States. We are thrilled to work with the talented Ingresso team and build upon their already successful organization.  Latin America presents the next logical growth area for Fandango, and we look forward to extending our leading online and mobile ticketing capabilities to Brazil’s entertainment fans,” said Fandango president Paul Yanover.

Fandango will bring to Ingresso.com its online and mobile entertainment products, branding and marketing expertise and fast-growing international position on YouTube with Fandango Movieclips content to build an even larger presence for Ingresso.com in Brazil’s entertainment ecosystem.

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